Healthcare Realty Trust (HR) Stock Overview
A real estate investment trust (REIT) that owns and operates medical outpatient buildings primarily located around market-leading hospital campuses. More details
| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 0/6 |
| Past Performance | 0/6 |
| Financial Health | 2/6 |
| Dividends | 3/6 |
HR Community Fair Values
Create NarrativeSee what 6 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Healthcare Realty Trust Incorporated Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$20.36 |
| 52 Week High | US$20.60 |
| 52 Week Low | US$14.09 |
| Beta | 0.82 |
| 1 Month Change | 8.82% |
| 3 Month Change | 10.23% |
| 1 Year Change | 41.88% |
| 3 Year Change | 12.99% |
| 5 Year Change | -32.89% |
| Change since IPO | 4.41% |
Recent News & Updates
Seeking Alpha • May 19
Healthcare Realty Trust: Betting On Outpatient Demand Growth, Lower Operator Risk (Upgrade)
Summary Healthcare Realty Trust is well positioned in the outpatient medical REIT space, benefiting from macro trends like aging demographics and rising outpatient care demand. HR's growth is supported by a nationwide portfolio, strong tenant retention, and opportunities for property acquisitions and lease growth. Balance sheet risk is mitigated by competitive debt metrics and diversified asset exposure. Valuation remains attractive relative to peers, with technical patterns and forward P/FFO supporting a favorable risk/reward profile for income-focused investors. The dividend story is where this stock shows a lack of a compelling growth trend, along with thin AFFO coverage. Read the full article on Seeking Alpha
Narrative Update • May 11
HR: Share Repurchases And Auditor Change Will Support Balanced Future Outlook
Analysts have nudged their fair value estimate for Healthcare Realty Trust to $19.64 from $19.18, citing updated assumptions around discount rates, profit margins, and future P/E as the main drivers of the revised price target. What's in the News Updated 2026 earnings guidance now points to EPS in a range between a loss of $0.05 per share and a profit of $0.05 per share, matching the prior outlook for the year (Corporate guidance).Recent updates
Seeking Alpha • May 19
Healthcare Realty Trust: Betting On Outpatient Demand Growth, Lower Operator Risk (Upgrade)
Summary Healthcare Realty Trust is well positioned in the outpatient medical REIT space, benefiting from macro trends like aging demographics and rising outpatient care demand. HR's growth is supported by a nationwide portfolio, strong tenant retention, and opportunities for property acquisitions and lease growth. Balance sheet risk is mitigated by competitive debt metrics and diversified asset exposure. Valuation remains attractive relative to peers, with technical patterns and forward P/FFO supporting a favorable risk/reward profile for income-focused investors. The dividend story is where this stock shows a lack of a compelling growth trend, along with thin AFFO coverage. Read the full article on Seeking AlphaNarrative Update • May 11
HR: Share Repurchases And Auditor Change Will Support Balanced Future Outlook
Analysts have nudged their fair value estimate for Healthcare Realty Trust to $19.64 from $19.18, citing updated assumptions around discount rates, profit margins, and future P/E as the main drivers of the revised price target. What's in the News Updated 2026 earnings guidance now points to EPS in a range between a loss of $0.05 per share and a profit of $0.05 per share, matching the prior outlook for the year (Corporate guidance).Narrative Update • Apr 25
HR: Share Repurchases And Auditor Change Will Support Steady Future Outlook
Analysts have trimmed their price target on Healthcare Realty Trust from about $19.40 to roughly $19.18, reflecting updated views on fair value, discount rate, revenue growth, profit margins, and a very large forward P/E assumption. What's in the News On February 19, 2026, the Audit Committee replaced BDO USA, P.C. with Deloitte & Touche LLP as Healthcare Realty Trust's independent registered public accounting firm, effective the same day (company filing).Narrative Update • Apr 10
HR: Share Repurchases And New Auditor Will Support Steady Future Outlook
Analysts have kept their price target for Healthcare Realty Trust steady at $19.40, citing a slightly higher discount rate, modestly positive revenue growth expectations of about 0.47%, and a small adjustment to the projected P/E multiple. What's in the News On February 19, 2026, the Audit Committee replaced BDO USA, P.C. with Deloitte & Touche LLP as Healthcare Realty Trust's independent registered public accounting firm, effective the same day (company filing).Narrative Update • Mar 26
HR: Buybacks And New CFO Will Support Richer Future P/E Outlook
Analysts have kept their $19.40 price target for Healthcare Realty Trust unchanged, as a slightly higher discount rate and modestly lower profit margin estimates are considered offset by expectations for a somewhat richer future P/E multiple. What's in the News The Audit Committee replaced BDO USA, P.C. with Deloitte & Touche LLP as the independent registered public accounting firm, effective February 19, 2026 (company filing).Narrative Update • Mar 11
HR: Buybacks And New Auditor Will Shape Balanced Outlook
Analysts kept their price target for Healthcare Realty Trust steady at $19.40, noting that only minor adjustments to the discount rate, profit margin, and future P/E assumptions contributed to maintaining this view. What's in the News On February 19, 2026, Healthcare Realty Trust’s Audit Committee replaced BDO USA, P.C. with Deloitte & Touche LLP as the company’s independent registered public accounting firm, effective immediately (company filing).Narrative Update • Feb 24
HR: New CFO, Buybacks And Equity Program Will Shape Balanced Outlook
Analysts have nudged their price target for Healthcare Realty Trust to $19.40 from $19.10, reflecting updated views on discount rates, expected revenue trends, margins, and future P/E assumptions. What's in the News Issued 2026 earnings guidance with expected EPS in a range between a loss of $0.05 and a profit of $0.05 per share, outlining a relatively tight band around break-even for the year (company guidance).Narrative Update • Feb 10
HR: New CFO Hire And Equity Program Will Support Future Returns
Analysts kept their fair value estimate for Healthcare Realty Trust steady at US$19.10. The latest price target update reflects slightly adjusted assumptions on the discount rate, profit margin and future P/E, as they reassess the balance between risk, earnings efficiency and valuation multiples.Narrative Update • Jan 27
HR: New CFO Appointment And Share Repurchases Will Support Future Returns
Analysts kept their fair value estimate for Healthcare Realty Trust steady at US$19.10, citing only minor adjustments to the discount rate, revenue contraction assumptions, profit margin, and future P/E that did not materially alter their overall price target view. What's in the News Healthcare Realty Trust appointed Daniel Gabbay as Chief Financial Officer, with the role effective January 12, 2026, based at the Nashville headquarters (Key Developments).Narrative Update • Jan 12
HR: Share Repurchases And New CFO Appointment Will Support Future Returns
Analysts have trimmed their fair value estimate for Healthcare Realty Trust from US$19.50 to US$19.10, citing updated assumptions that reflect slightly higher discount rates, more conservative revenue growth expectations, modestly stronger profit margins, and a lower future P/E multiple. What's in the News Healthcare Realty Trust appointed Daniel Gabbay as Chief Financial Officer, effective January 12, 2026, with the role based at the Nashville headquarters.Narrative Update • Dec 15
HR: Share Repurchases Will Support Future Returns Despite Softer Earnings Outlook
Analysts have modestly raised their price target on Healthcare Realty Trust by $0.00 to reflect a slightly lower discount rate and a higher anticipated future earnings multiple, partly offset by softer expectations for revenue growth and profit margins. What's in the News The Board of Directors authorized a new share repurchase plan on October 28, 2025, signaling continued commitment to returning capital to shareholders (Key Developments).Narrative Update • Nov 29
HR: Share Buybacks And Earnings Outlook Will Shape A Measured Path Forward
Healthcare Realty Trust’s average analyst price target has edged slightly higher from $19.30 to $19.50. Analysts attribute this change to modest adjustments in valuation assumptions and outlook.Narrative Update • Nov 15
HR: Share Repurchases And Modest Guidance Shift Signal Balanced Outlook Ahead
Analysts have increased their price target for Healthcare Realty Trust from $18.90 to $19.30. They cite a modest improvement in projected revenue growth along with a slight reduction in the company’s discount rate.Narrative Update • Oct 31
HR: Modest Margin Gains And Earnings Outlook Will Guide Future Value
Analysts have slightly raised their price target for Healthcare Realty Trust from $18.70 to $18.90. They cited modest improvements in projected profit margin as well as a lower anticipated future price-to-earnings ratio.Narrative Update • Oct 17
Aging Demographics And Modern Outpatient Demand Will Transform Value
Healthcare Realty Trust's analyst price target has been revised slightly upward to $18.70 from $18.56 as analysts factor in modest improvements in projected profit margin and discount rate, even though the outlook for revenue growth is marginally lower. What's in the News The company reported impairments of real estate assets totaling $140,877,000 for the second quarter ended June 30, 2025, up from $120,917,000 a year prior (Key Developments).Narrative Update • Oct 03
Aging Demographics And Modern Outpatient Demand Will Transform Value
Analysts have raised their price target for Healthcare Realty Trust from $17.75 to $18.56. They cite incremental improvements in fair value estimates based on modest adjustments to the discount rate and updated profit margin projections.Narrative Update • Aug 31
Aging Demographics And Modern Outpatient Demand Will Transform Value
The modest increase in Healthcare Realty Trust’s analyst price target reflects a slightly improved consensus revenue growth outlook, with fair value rising from $17.38 to $17.75. What's in the News No share repurchases made in Q2 2025; total buyback to date is 3,679,162 shares (1.03%) for $63.04 million.
New Narrative • Mar 20
Outpatient Medical Trends And Efficiency Efforts Set To Improve Future Prospects
Strategic asset sales and debt reduction efforts are expected to enhance net operating income growth and reduce leverage.Seeking Alpha • Dec 26
Healthcare Realty Trust: Growth In Outpatient Demand And Portfolio, Impacted By Net Losses
Summary Healthcare Realty Trust gets an initial rating of hold, agreeing with the consensus today. Upside factors include macro data forecasting continued demand for outpatient care, and population growth in a key region for this REIT. The REIT has a strong tenant retention rate above 80%, and has been growing its property portfolio. Downside risks are a negative profit margin and 7 quarters of net losses impacting my outlook, as high operating costs eat into earnings. Although the dividend yield is above 7%, there also has not been any dividend growth in the last 2 years. Read the full article on Seeking AlphaSeeking Alpha • Oct 10
Bottom Finishing For Big Dividends: Healthcare Realty
Summary Stop focusing on the bad news stocks and look beyond the noise to outstanding income opportunities. Today we look at the "other healthcare REIT." I collect large sums of cash from the market and enjoy it! Read the full article on Seeking AlphaSeeking Alpha • Aug 04
Healthcare Realty: No Reason For Dividend Investors To Become Bullish
Summary HR's Q2, 2024 earnings report showed positive same store NOI growth, but a decrease in normalized FFO per share. Despite asset disposals and debt repayments, HR's FAD continues to be below the quarterly dividend, raising concerns about dividend coverage. HR's long-term prospects are positive due to healthcare industry trends, but current uncertainties make it a risky investment, especially for dividend investors. Read the full article on Seeking AlphaSeeking Alpha • Jul 12
Healthcare Realty: Strong Leasing Velocity, Hefty Dispositions, And A Bold Capital Strategy
Summary Healthcare Realty Trust specializes in medical office buildings, focusing on outpatient care near large hospital campuses. HR has faced challenges in recent years, including declining occupancy rates and financial deterioration. Recent corporate updates show HR's aggressive recapitalization strategy through asset sales, joint ventures, and share repurchases to address financial issues and improve performance. As leasing velocity accelerates, HR could reemerge with material upside if the market reevaluates the risk of a dividend cut. Read the full article on Seeking AlphaSeeking Alpha • May 14
Healthcare Realty: The Recent Run-Up In Share Price Is Unjustified
Summary Healthcare Realty's Q1 2024 results were strong, with total multi-tenant NOI growing by 2.8% and FFO per share at the upper end of guidance. The company's strategic JV partnership with KKR provided access to significant liquidity, with $300 million already monetized and plans for an additional $300 million. However, the use of proceeds for share buybacks is inappropriate as FAD generation falls short of dividends and there are concerns about refinancing and debt maturities. In this article, I elaborate on the Q1'24 earnings report and provide more details on why I still have maintained a relatively bearish stance against HR. Read the full article on Seeking AlphaShareholder Returns
| HR | US Health Care REITs | US Market | |
|---|---|---|---|
| 7D | -0.2% | 1.3% | 1.1% |
| 1Y | 41.9% | 35.4% | 28.7% |
Return vs Industry: HR exceeded the US Health Care REITs industry which returned 35.4% over the past year.
Return vs Market: HR exceeded the US Market which returned 28.7% over the past year.
Price Volatility
| HR volatility | |
|---|---|
| HR Average Weekly Movement | 2.8% |
| Health Care REITs Industry Average Movement | 4.0% |
| Market Average Movement | 7.2% |
| 10% most volatile stocks in US Market | 16.5% |
| 10% least volatile stocks in US Market | 3.1% |
Stable Share Price: HR has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: HR's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1992 | 539 | Pete Scott | www.healthcarerealty.com |
Healthcare Realty Trust Incorporatedis a real estate investment trust (REIT) that owns and operates medical outpatient buildings primarily located around market-leading hospital campuses. The Company selectively grows its portfolio through property acquisition and development. As of September 30, 2025, the Company was invested in 579 real estate properties in 28 states totaling 33.6 million square feet and had an enterprise value of approximately 11.1 billion dollars, defined as equity market capitalization plus the principal amount of debt less cash.
Healthcare Realty Trust Incorporated Fundamentals Summary
| HR fundamental statistics | |
|---|---|
| Market cap | US$7.14b |
| Earnings (TTM) | -US$203.81m |
| Revenue (TTM) | US$1.16b |
6.1x
P/S Ratio-34.6x
P/E RatioIs HR overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| HR income statement (TTM) | |
|---|---|
| Revenue | US$1.16b |
| Cost of Revenue | US$441.19m |
| Gross Profit | US$719.68m |
| Other Expenses | US$923.49m |
| Earnings | -US$203.81m |
Last Reported Earnings
Mar 31, 2026
Next Earnings Date
n/a
| Earnings per share (EPS) | -0.59 |
| Gross Margin | 61.99% |
| Net Profit Margin | -17.56% |
| Debt/Equity Ratio | 91.3% |
How did HR perform over the long term?
See historical performance and comparisonDividends
4.7%
Current Dividend Yield74%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/25 02:52 |
| End of Day Share Price | 2026/05/22 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Healthcare Realty Trust Incorporated is covered by 28 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| David AuBuchon | Baird |
| Connor Siversky | Berenberg |
| John Kim | BMO Capital Markets Equity Research |